The US Securities and Exchange Commission (SEC) has appointed Bryan Wood, a former Republican staff member on the House Committee on Financial Services, as director of the agency’s legislative and intergovernmental affairs office, according to an official statement.
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Cassidy will succeed Keith Cassidy as he transitions to the role of Associate Director, Technology Controls Program in the Office of Compliance Inspections and Examinations (OCIE).
Mr. Wood holds a key a position at a time when Republican lawmakers and the Trump administration are eager to overhaul financial regulations. In addition, the regulator depends on Congress to approve its budget.
Wood will advise the SEC on legislative matters and provide technical assistance on securities-related legislation to congressional committees and staff. He will also assist in the preparation of the agency’s testimony for congressional hearings and coordinate with other government entities.
Prior to this appointment, Bryan served in many roles on Capitol Hill for more than a decade. He most recently worked as senior advisor and counsel at the House Financial Services Committee. During his tenure, he helped the committee head Jeb Hensarling who plays a key role in efforts to reduce regulations imposed on the finical sector by the Dodd-Frank act.
In Congress, Wood also worked for the subcommittee on capital markets, securities and investment, and as legislative director to its Republican boss Robert Hurt.
Commenting on the appointment, SEC Chairman Jay Clayton said: "It is important that the SEC work in cooperation with Congress and other government entities in a way that is responsive, efficient, and effective to best serve the American people. The SEC will benefit from Bryan’s experience in Congress, his knowledge of our federal securities laws, and his commitment to public service."
Bryan Wood added: "I am honored to have the opportunity to work with the Chairman, Commissioners, and dedicated staff here at the SEC. I look forward to helping the agency continue to fulfill its critical mission."
